Listed cybersecurity and cloud services provider Sovereign Cloud Holdings – trading as AUCloud – has launched a $30 million raise to acquire three businesses,AUCloud has inked binding agreements to acquire PCG Cyber, a specialist cybersecurity consultancy serving government clients; Venn IT, a Queensland and South Australia-based consultant and managed services provider; and Arado, which provides cloud and managed services to multi-sector clients, especially in Queensland.
The acquisitions will be funded via a $30 million renounceable rights issue, as flagged by this column. Shares were halted on Monday morning pending the raise. Shareholders are being told AUCloud would have $36.6 million revenue and about $4.7 million underlying EBITDA for the 2025 financial year, with monthly operating cashflows expected to be in the green by the first half.
The company has been running a strategic review since June 2023, and its share price has halved to 4.1¢ in 12 months., the Craig Scroggie-run data centre giant, which already owns 33 per cent of the register is expected to take up its rights under the raise.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories.
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